Karat Packaging Inc. (KRT) to Issue Quarterly Dividend of $0.45 on February 28th

Karat Packaging Inc. (NASDAQ:KRT) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Investors of record on Monday, February 24th will be paid a dividend of 0.45 per share on Friday, February 28th. This represents a $1.80 annualized dividend and a dividend yield of 5.59%. The ex-dividend date of this dividend is Monday, February 24th. This is an increase from Karat Packaging’s previous quarterly dividend of $0.40.

Karat Packaging has a payout ratio of 81.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Karat Packaging to earn $1.80 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 88.9%.

Karat Packaging Price Performance

Shares of NASDAQ:KRT opened at $32.18 on Friday. The firm has a 50 day simple moving average of $30.41 and a 200 day simple moving average of $28.28. The company has a market cap of $644.24 million, a price-to-earnings ratio of 22.99 and a beta of 1.08. Karat Packaging has a one year low of $23.10 and a one year high of $33.14. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.12 and a quick ratio of 1.82.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. William Blair downgraded Karat Packaging from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Stifel Nicolaus lifted their price target on Karat Packaging from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th.

Karat Packaging Company Profile

Karat Packaging Inc, together with its subsidiaries, engages in the manufacture and distribution of single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings. It provides food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products under the Karat Earth brand.